Monday, the Indian rupee tumbled to a new multi-day low against the dollar as heavy losses in the local stock market and the dollar's strength overseas pulled the rupee down.
Bombay Stock Exchange's Sensex ended at 9584.27, down 464.22 points or 4.01 per cent. The Sensex had jumped over 12% previous week and over 23 per cent in the past twelve trading sessions following a rise in the global stock markets. National Stock Exchange's Nifty was at 2984.45, down 124.20 points or 3.62 per cent.
The Indian rupee slipped to 51.34 per dollar at 6:55 am ET, its lowest point since March 18. If the Indian currency weakens further, it may likely target the 51.9 level. At last week's close, the dollar-rupee pair was quoted at 50.53.
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